Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8808 Garfield Blvd Garfield Heights, OH 44125-1303

    • Retail space
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Feb 08, 2021
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-4034541
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 8808 Garfield Blvd

    Lot size
    0.15 lot acres
    Zone code
    U-4
    Property type
    Retail space
    APN
    541-16-003
    APU
    54116003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Garfield Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.6232
    Latitude
    41.4288
    CBSA code
    17460
    CBSA name
    CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $681
    $4,550
    $0.00
    $4,550
    -
    $13,000
    $0.00
    $13,000

    Comparable in this City

    • Value Estimation by Request
      0.11 Acres

      Grand Division Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.11 Acres
      Grand Division Ave, Garfield Heights, OH 44125
      View Details
    • Value Estimation
      $980,000
      8,542 SF

      7525 Granger Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,542 SF
      7525 Granger Rd, Valley View, OH 44125-4858
      View Details
    • Value Estimation by Request
      2,164 SF

      4631 Turney Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,164 SF
      4631 Turney Rd, Garfield Heights, OH 44125-1442
      View Details
    • Value Estimation by Request
      537 SF

      5513 Turney Rd

      RETAIL STORES (PERSONAL SERVICES) • 537 SF
      5513 Turney Rd, Garfield Heights, OH 44125-3701
      View Details
    • Value Estimation by Request
      840 SF

      5615 Turney Rd

      RETAIL STORES (PERSONAL SERVICES) • 840 SF
      5615 Turney Rd, Garfield Heights, OH 44125-3733
      View Details
    • Value Estimation by Request
      2,400 SF

      6068 Turney Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      6068 Turney Rd, Garfield Heights, OH 44125-4502
      View Details

    Similar Nearby for Sale

    • $185,000
      Pending

      Retail Property in Garfield Heights

      Retail property for sale in Garfield Heights, Ohio.
      4933 E 106Th St, Garfield Heights, OH 44125
      View Details
    • $9,000,000

      Versatile Land Parcel for Sale

      Large, EPA-approved parcel suitable for various commercial and industrial uses.
      5000 Warner Rd, Cleveland, OH 44125
      View Details
    • $275,000
      2,758 SF

      Prime Garfield Heights Bank Building

      2,758 SF Bank Building - $275K
      4805 Turney Rd, Garfield Heights, OH 44125
      View Details
    • $10,899,490
      155,707 SF

      Valley View Flex Industrial Asset

      Well-maintained, multi-tenant flex industrial asset in a prime location.
      10055 Sweet Valley Dr, Valley View, OH 44125
      View Details
    • New
      $170,000
      1,536 SF

      Income-Producing Duplex in Garfield Heights

      Fully occupied duplex generating reliable monthly rental income.
      10609 Wadsworth Ave, Garfield Heights, OH 44125
      View Details
    • $3,363,000
      131,000 SF

      Valley View Industrial Warehouse

      131,000 SF Warehouse, $3.36M, Ohio
      0 Canal Rd, Valley View, OH 44125
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,848 SF

      Garfield Heights Business Park Redevelopment

      New business park with industrial, office, and retail spaces.
      5670-5686 Vista Way, Garfield Heights, OH 44125
      View Details
    • Contact for pricing
      720 SF

      Retail Space in Maple Heights

      Retail space for rent in a Cleveland suburb.
      15684-15880 Broadway Ave, Maple Heights, OH 44125
      View Details
    • Contact for pricing

      Accessible Central Location Office/Retail Space

      Office and retail spaces available in central Garfield Heights location.
      Garfield Heights, OH 44125
      View Details
    • Contact for pricing
      5,121 SF

      Vista Way Retail Spaces Available

      Class A Retail/Office in Garfield Heights, OH
      9501 Vista Way, Garfield Heights, OH 44125
      View Details
    • $18 SF/Yr
      4,380 SF

      Vista Way Restaurant Space Available

      Prime Restaurant Location, I-480 Visibility
      9401 Vista Way, Garfield Heights, OH 44125
      View Details
    • $14 SF/Yr
      7,145 SF

      Garfield Heights Office Suites for Lease

      Multiple suites, flexible sizes, all utilities included.
      5706 Turney Rd, Garfield Heights, OH 44125
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8808 Garfield Blvd
    Garfield Heights, OH 44125-1303
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.